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CNBC
Oct 29, 2012 5:00am EDT
. >>> well on come to wourd wide exchange. as is an decide barrels towards the east code, u.s. authorities order thousands to evacuate for the the biggest storm. >> my first message is to all the people across the eastern seaboard atlantic going north that you need to take this very seriously. >> all u.s. stock markets will be closed today. its first weather related closures in 27 years. and shares in ubs rise in the open after reports swiss bank may cut 10,000 investment banking jobs and wind down up to 15 trading businesses. police wen and his family fight back. their lawyers call it untrue and are considering legal action against the "new york times." for our u.s. viewers, the show will be on just one hour this week because europes has gone off daylight savings time, so we're just four hours ahead now of new york time. hurricane sandy is also still several hours away from make landfall, but the impact of the storm is already being felt. transportation has ground to a halt as new york and other major eastern cities have shut down mass transit, airlines canceling flights and
CNBC
Oct 30, 2012 5:00am EDT
. >> europe went off daylight savings time a week ahead of the u.s. back to full schedule next week. in the meantime, sandy is no longer a hurricane by name, but still making a major impact. storm made landfall monday night along new jersey east koer. still packing hurricane force sandy is expected to weaken, but the rain could linger. already at least ten deaths have been blamed on the storm. u.s. markets will be closed for a second day today. still electronic trading. the last time by the way the new york stock exchange was closed for more than a day because of weather, 1888. when a snowstorm piled up to 40-foot drifts. u.s. refineries had to shut nearly all the east coast fuel supplies ahead of sandy and they'll begin assessing damage today. three of the key six refineries shut down. analysts estimate sandy could cost between $5 billion and $10 billion in ensured losses. it would be the fifth costliest hurricane in u.s. history. sandy could cause more wind and flood damage than hurricane irene did last year. new york city and especially lower manhattan saw its shares of flooding
CNBC
Oct 10, 2012 4:00am EDT
there as tensions between the two countries intensify. the u.s. government suing the nation's biggest mortgage lender. we'll take a look at how the global industry is faring. then it's off to paris. the stricken car maker is downgraded by moody's a day after demonstrators stage protests. we'll have details from the french capital. and we'll head to new york where there's an appetite for young, profits that is, up nearly a quarter from a year earlier. we'll take a look on a big day for earnings on wall street. and a big week that's coming up. joining us now onset, though, bob mckey. bob, you're here with us, chief economist from independent strategy. i guess let's just begin by talking a little bit about some of these headlines that we're hearing from the imf regarding financial stability. obvious, i guess, to sort of draw attention to this issue, but in your mind, is there still lingering risk out there from the lack of reform, i guess, in some areas of the industry? >> i think what the global stability report is showing -- it's the third report the imf brings out at this semiannual meeting. e
CNBC
Oct 22, 2012 9:00pm EDT
who actually killed us on 9/11. as a consequence, al-qaida's core leadership has been transcended. we're able to transition out of afghanistan in a responsible way making sure that afghans take responsibililility for themselv. that allows us to rebuild alliances and make friends around the world to combat future threats. now, with respect to libya, as i indicated in the last debate, when we received that phone call, i immediately made sure that, number one, we did everything we could to secure those americans who are still in harm's way. number two, that we would investigate exactly what happened. and number three, most importantly, we would go after those who killed americans and bri bring them to justice. i think it's important to think about what happened in libya. keep in mind that i, and americans, took leadership in organizing an international coalition that made sure that we we were able to, without putting troops on the ground, liberate a country that had been under the yolk of dictatorship for 40 years. god rid of a despite who killed americans. despite this tragedy, you had
CNBC
Oct 2, 2012 4:00am EDT
, willing to act was the other phrase he used. he will consider the options and the conditionality, but it wasn't just a decision for spain, it was also a decision about the future of the and you are row, too. and given the perspective of the market, i think you can agree the longer we wait, the higher the risks. >> thanks for that, julia. so just remind you on today's show, we'll be in moscow for the russian investment forum. we'll hear from the deputy. also be in philadelphia to talk kraft. the share at a ten year high. and we'll speak first to the ceo of talix. it has opened higher after the ipo. before that, the rba has surprised the street by cutting to a three year low. the central bank said the move was prompted by several factor, including china slowdown and the high australian dollar. it's widely expected to continue. you've just been in australia. >> i have. i'm still suffering from the consequences of it being a short trip. got back on the weekend. >> what do you make of them obviously being deeply impacted by -- >> well, it was all the rage topic of the two days i was t
CNBC
Oct 24, 2012 4:00am EDT
suffering the biggest recession. joining us is chris williamson, global chief economist, which puts all that data together. take the german pmis, take your composite pmis, not cheery. >> it's not a good picture, no. the survey is pretty unanimous, saying the zone is going through a tough moment, the worst since 2009. these are really bad numbers. what's interesting is the official data haven't quite caught up with that yet. they're still suggesting a sta stagnation. >> if you were going to translate this into gdp numbers, hard data, what would the read-through be? >> well, we're looking for the region as a whole, a gdp collapse of around 5.6% in the third quarter and that same rate of decline as we go into the fourth quarter. that sort of contraction is what we're seeing at the moment. that matched the pmi reading in terms of how you would look at gdp. so france has joined the periphery, if you like. germany is showing some resilience, but nevertheless -- >> october manufacturing pmi came in this morning -- what was the flash estimate? 45.7. now people are looking for number 48 on that.
CNBC
Oct 3, 2012 4:00am EDT
beach roots from london, so it's been using the flights to fly into some of those little nations. it seems as though the pursestrings for holiday travelers has certainly being loosened a little bit. let's take a look at what's playing out on debt markets today across the charts. you see prices are moving high. we're still seeing below the 1.5% level. the constant question mark surrounding the official request for aid. but so far yield pressure is still okay. just drifting off that 5% level. across foreign exchange markets today, let's look at the flavor that we're seeing out there. a little bit of appetite still for the u.s. dollar. the trade for the australian dollar has been down since then. so it seems as though that might be a little bit broken. dollar-yen rates fairly stable for a couple days, but still we are seeing story up and down a tenth of a percent. euro/dollar -- 129 and a quarter is the handle. the golden week holiday has been impacting liquidity, although some people really take you off for some of those beach destinations. >> really a lackluster day of trade. the
CNBC
Oct 31, 2012 5:00am EDT
. now residents belong a long and costly recovery process. >> the u.s. markets are set to reopen after being closed the last few days. the new york mass transit system is still shut down. >>> new sthats now expect profit growth to hit the slowest since lifting. >>> welcome to today's show. the good news is financial markets start trading again. >> well, good news or it depends on how they open. certainly there's people with pent up demand. >> i think whatever happens, the fact that we're back up and trading is a good thing. >> the interesting question is why. but why couldn't the new york stock exchange have gone with its electronic trading systems. will this serve as a catalyst to maybe pursue that route the next time with more confidence. >> it's a day of cleanup. >> yes, it is. millions of people in the northeastern u.s. will spend days or weeks to recover from sandy, which is being blamed for at least 46 deaths. at its peak, more than 8.5 million homes and businesses were without power. new york city and new jersey, especially the jersey shore, were the hardest hit. president obama
CNBC
Oct 17, 2012 3:00pm EDT
got a tough crowd with us today here. >> we really do. in terms of this market here, what do you want to do in the face of all of this? do you want to put money to work or sit on the sidelines going into year end? >> you can't put money on the sidelines. what are you going to do, buy a treasury bond and get killed? you have to put money to work and put it in those things the government cannot create by fiat. that's hard assets. >> okay. keith, what are you buying here? >> you've got to buy yield here. you can buy some hard assets, but we're in a deflationary environment. we don't see inflation -- >> don't go to the grocery store. >> assets are being destroyed faster than the government can inflate with. you have to buy yield. you can find good yield. there's plenty of places if you don't need all the risk of the market. it's what we do for our clients. we have to remember, we're in a deflationary environment for a couple more years. that's why we're not seeing any inflation. >> look, can i say something? look -- i hate to interrupt. >> you did. >> i know, but that's kind of how i do t
CNBC
Oct 22, 2012 8:00pm EDT
well for president obama in the first debate. >> connect the dots for us, john. in terms of foreign policy decisions that will impact the economy here, what's your take? what are you expecting? >> well, you can expect on china, for example, they're both talking about getting tough with china. romney says he would be tougher. when you talk about unrest in libya, in syria and the middle east, people connect that to oil prices and our energy future. when you talk about afghanistan, you can expect the president to make the case that the reason i'm pulling troops out of afghanistan in 2014 is, a, because there's no more useful purpose to be served by them there. but, b, it's time to start building a nation at home. >> all right, john, talk to you soon. >> larry kudlow is the host of kudlow report here on cnbc. >> it's funny. you asked that question about the debate and the economy. i think the flow may be the other way. i have a feeling that mitt romney is going to make a lot of effort tonight to talk about the economy which, in his view, has been very weak. the worst recovery since worl
CNBC
Oct 31, 2012 4:00am EDT
at the bank by some of the u.s. divisions, including the department of justice and the s.e.c. he's been following it. i was looking tecum net interest in business banking, world and investment banking. to me, this would seem to support it because this is where apparently barclays is focusing its attention, and yet there's no growth in this area. what are the takeaway messages here? >> the takeaway message is going to take time. not going to be turned around over the course of two or three quarters. it does take a lot of time. takes branding, takes marketing. i think investors are maybe showing a little patience with that. obviously you heard about the department of justice and the s.e.c. about how they retain clients. that was unexpected. not sure how much of an impact that could have. but in the short term, it's going to knock some wind off the sails, so to speak. the numbers are in line, actually. they did get propped up from the investment banking side of things. but from a quarterly perspective, investors' banking income was up, but if you take away where it was, it's continuity has
CNBC
Oct 5, 2012 4:00am EDT
headlines. the september u.s. jobs report is up on the mood of investors with data expected to show another month of modest yet unspectacular growth. samsung expects another record quarter of smartphone sales, but analysts say this could be the peak. and the bank of japan holds off on more easing for now, but opening the door to more action later this month. also, spain's finance minister says the country does not need a bailout facing a skeptical crowd in london, but could rajoy be cornered by the leaders of france and italy at a meeting today? i've been away for a couple of days and thanks for whoever filled in. on today's show, planning more sanctions on iran. we'll look at the worsening impact on the panel of experts. larry fink said the u.s. housing market is inching closer to a rebound. we'll hear more from that interview. and can the united states dodge a financial cliff in we'll speak to a guest who has clear ideas of what needs to be done. first it's about the jobs report, unemployment report due out at 8:30 eastern. economists think yet another month of modest job growth, but not
CNBC
Oct 8, 2012 3:00pm EDT
professor and senior fellow at brookings, which authored that very study. also with us are savita from merrill lynch. very strong language in the report, global economic recovery hits the ropes but you do make the point that the u.s. certainly looks better than everyone else. so, the key question is, can the u.s. avoid catching the world's cold? >> that's a literal statement. the u.s. looks better than other xhis in the world but it's not a great spot to be in. with the amount of policy and political uncertainty, the u.s. -- even the u.s. recovery staying strong is certainly not a sure thing. they'll be buffeted by headwinds from abroad because china and india are not doing well. even u.s. has a rocky road ahead. >> you go through nearly every region of the world and talk about all the negatives in every part of the world. is there going to be a global recession? can you put a percentage on it? what's your estimate? >> well, right now it's political and policy uncertainty that's really the big story in virtually every economy. central banks around the world have put a floor on risk, an
CNBC
Oct 17, 2012 4:00pm EDT
much to all of you for joining us. let me get your take on the housing numbers today, jeffrey. it looks like they were better than expected. still a debate going on in terms of where this recovery stands. >> they definitely were better than expected, but from very low levels. we're up 70, 80% from the lows. but we were well down from the peak in housing. we're not expecting housing to be the steam engine of this recovery. maybe there's a little too much excitement with this particular report. >> john, in terms of putting money to work in this market, do you think what jeffrey is saying, in terms of where we are, is priced into this market? >> when i look at the markets right now and what's going on with the movement in stocks over the last year, it's been on very low volume. in my mind, the one big economic indicator we need to be following is job growth. i don't see job growth that's going to allow us to keep a sustainable movement in the market. >> do you want to sell into equities? >> i guess when i look at it, i'm looking at a longer-term horizon. i think volatility is here to stay
CNBC
Oct 15, 2012 6:00am EDT
first broke the details last week. he'll join us in the next hour. and citigroup leads the earnings parade. numbers due at about 8:00 a.m. eastern time. the banking giant is expected to earn 96 crepts is share on revenue of $18.4 billion. as always, well bring you the results and instant analysis. both of these stories could be keys to the broader markets today. stocks are coming off their worst week since early june. it's been four months since we've seen a week like we saw last week. it was bad across the board for the dow, the s&p and for the nasdaq, but many on wall street are buzzing for a bullish story which suggests the dow could soar past all time highs. argues stocks are healthier today. our what's working now series continues. in just a few minutes, we have mark mobius joining us with his take on the emerging markets. he travels world looking for the best bets. and at 6:30, the ceo of rbc wealth management, john taft. at 8:00, we'll turn to the fixed income markets with jim r reynolds. plus neel kashkari will be offering his stock selections, as well. and this morning we a
CNBC
Oct 16, 2012 7:00pm EDT
focus of the debate. maybe we'll get answers from obama. maybe he will tell us why he threw hillary clinton and the intelligence group under the bus. will he man up and take responsibility for this? also this evening. city corp. ceo resigns and they all beat. larry, this is the second day we close high on the day. this rally had nothing to do with citigroup. i'll tell you what is behind it in a few moments. round two kicks off. we are two hours away. the second obama debate comes in the race and also very close to barack obama in the key swing states. this is the town hall format. it has proved tricky in the past. of course the topics are going to range from domestic policy and you can expect talk about the attack in libya that has broiled the raise ice in recent. >> why is the white house letting hillary clinton take the blame? >> i take responsibility. 60,000 people all over the world. the president and the vice president wouldn't be knowledgeable about specific decisions that are made by security professionals. clinton saying the buck stops with her. >> harry truman had it right.
CNBC
Oct 2, 2012 2:00pm EDT
lawsuit against jp morguen? she is here to let us know. >>> we want to know, who has a better chance of winning this year is it a, mitt romney, or b, the new york jets? vote now on our show page, street signs.cnbc.com. the results, mandy, later in this cablecast. >> indeed. in fact, watching the trading day starting off in rally mode but that buying spree was short circuited about spain's fiscal situation. the dow lost a 52-point gain and on track for the sixth loss in eight session. the numbers more bearish for the s & p 500, down for the ninth time in 12 sessions and losing about 1.6% over that time. the nasdaq near break even, trying to avoid a six of seven losing streak t is down about 2% in that period. brian? >>> the u.s. is addicted to budgetary crystal meth, those words from a man we are now calling "breaking bad" bill gross there he is. his new picture. he outlined america's severe spending addiction in his latest investment outlook and he has got some eye-popping stats on how much debt we may really have. he joins us now in a first on cnbc interview. all right. enough enoug
CNBC
Oct 12, 2012 5:00pm EDT
. in the strategy we sell the daily put and use the money to buy the long on the same strike. you want the stock to be above the strike or put the strike before the expiration. so dan why don't you walk us through it? >> we use this last week. it worked very well for earnings. i want to do it again. we just showed this chart. it looks like a little bit of double top. there is a good bit of resistance. one of the things i wanted to do today because next week's october expiration there are weekly options. and they are pumped. they are elevated in volume terms for this event. i want to sell the october regular 1.15 puts and use the proceeds to buy the november put. i bought the october/november 1.15 put calendar for 1.40. i told one at 50 cents and bought one of the november for 1.90. my max risk is 1.40. that is a little less than 1% of the stock. i want the stock to not do a lot. i want it to go down a little bit and go up a little bit. i want the octobers to expire worthless and own the november 115 puts. at that point i will look to spread them. i am looking at november because i believe if oba
CNBC
Oct 16, 2012 4:00am EDT
company's performance will not be affected by the outcome of the u.s. election. >>> plus top oil producers forge ahead with ambitious output targets banking on stronger chinese demand. >>> and president obama and mitt romney are set for round two of their presidential debates tonight with the task of winning over undecided u.s. voters. >>> we start to get the into the meat of the week. advancers outpacing decliners by a little more than 6:3. yesterday ftse was up 0.2%, dax up 0.4%. this morning another third percent gains for the ftse 100. c 40 up 0.4%. ibex up about 1.10%. s&p putting a negative outlook on biggest spanish banks. let's show you where we stand. not impacted on the stocks. as far as bond issues are concerned, we have a t-bill auction coming out today in spain. we'll get the results of that in about an hour. 5.82%. spanish yields slightly higher than where we were yesterday. italy is fairly contained. the big test for spain will be on thursday. first time we've had a primary debt auction out of spain since the s&p downgrade last week. we'll keep our eyes on gilts, as well. uk
CNBC
Oct 23, 2012 4:00am EDT
, three town. president obama and mitt romney dual over foreign policy and the health of the u.s. economy in their third and final debate. made vase mire lays out her vision of yahoo! as the internet company posted better than expected third quarter figures. but burberry an lis cutting price targets. and bank of israel splaning for all sorts of eventualities among tipped tensions. . >>> on today's show, plenty to get through of course. let's remind you what's coming up. we'll discuss the presidential debate with experts one which president obama says was clearly the winner while the other thinks romney was the one who looked more presidential. we'll hear from the governor of israel stanley fisher with a live update from tel aviv. and we'll get an in-depth analysis on the latest earnings out of japan. find out what stocks our guests think is a buy at 10:30 cet. also is there more easing on the cards for the fed? we'll head out to philadelphia with the latest expectations. the fed begins its two day meeting. but first, president obama and mitt romney faced off for the third and final time b
CNBC
Oct 25, 2012 9:00am EDT
'm melissa lee from the new york stock exchange. let's take a look at how we're setting off on u.s. futures. certainly got a lot of data when it comes to economic data. durables talking of 9.9%. we are seeing a higher open across the board for the s&p, the dow and the nasdaq. taking a look at europe, italy is down by just .10%. a road map develops for what could be a very, very good day in technology. hear what steve ballmer has to say. >>> the mini ipad is out. >>> more trouble at best buy, a major management shakedown. >>> and is cramer going to call this the come back story of the quarter? and could it keep the ceo off the hot seat? >>> we begin today of course with microsoft officially unv l unveiling it's -- the secret staging area microsoft uses to lae out it's retail stores nationwide, we talked to steve ballmer about pcs versus tablets. >> you asked me what's going to happen to the pc market and the tablet market. we can't tell them apart. but with one arrow, we have if you will gotten two birds, tablet and pc, but we don't want to let any of the innovation surface of that not be e
CNBC
Oct 1, 2012 4:00pm EDT
you all. thank you so much for joining us. what do you think? good day for the markets? but, of course, off of the best levels. what does this tell us about the fourth quarter? >> yeah, sure. you have a lot of positive momentum heading into the fourth quarter. the seasonals tend to be positive going into the end of the year and the beginning of the new year. you know, you've got that going for you but have some uncertainties. the u.s. elections, the fiscal cliff. you've got some back tracking in europe. and then you've got the leadership transition in china. so i think you're going to have that positive influence, maybe met with a little bit of resistance around some of the unserpt you'll see because of these i vents. we think the markets are higher 15 months from now. >> okay, so even if we do see this volatility you think 15 months from now, are you going to be in a better position? what about that, peter, we've been talking today that the expectations call for a contraction in third quarter earnings. going to see a negative performance from the third quarter, these are the expectati
CNBC
Oct 2, 2012 3:00pm EDT
is not hearing you either. >> rob, are you with us? all right. some technical issues here. rick santelli, jump in here. let's talk about what you're seeing in chicago. >> bill, i can hear you. i couldn't hear maria. >> i'm wondering if you're seeing the beneficiaries in fixed income today. >> i wish we were. i wish we were. normally when you see a drop in equities, yes. you see lower yields because people buy treasuries. but it isn't happening very much today. certainly we're at a lower yield than we settled yesterday and a basis point lower. in the end, the key is over the last five sessions, maria, we've close between 161 and 165 yield. we're going nowhere quickly here. i think the deterioration in stocks is just a little bit of white noise, maybe people listen to ben bernanke yesterday. it just didn't add up. i can't tell you what was going on. >> what didn't add up, rick? how about the milton friedman stock? i know you've been all over that all day, so i brought a quote for you, rick. >> uh-oh. >> i brought a quote. milton friedman in his own words. now, rick, i know what you said, that an
CNBC
Oct 2, 2012 5:00pm EDT
piece. he joins us here at the nasdaq. good to see you in person. >> this is what every investor has to know. >> it is a turn around from where you stood before. before you thought it wasn't such a big deal. i think that is where most people had -- >> i made that mistake thinking it was just a blip and nobody would care. and then i look like a fool. it made me think and i started talking to a broader group of people who know this company and know the stock. what i found fascinating is where the story is going now. apple is a phone company. over 50% of the sales come from the phone. two-thirds of the profits come from the phone. what happens and this is what the smart people are asking, if the wireless carriers stop providing a premium in subsidy to apple which they have been doing all along for the iphone -- >> don't we ask that question every iphone and they do because they don't want to lose it. >> there is a difference because we are seeing a situation where we are narrowing the gap where people say you know when the iphone 5 s comes out will there be something big and new and exc
CNBC
Oct 18, 2012 4:00pm EDT
a distinguished panel to take us through these big stories. gene muenster of piper jaffray with me. our very own john fort. good to see you, gentlemen. thank you for joining us. ben pace, let me kick this off with you. when you see a specific story like what happened today in google and you put it into the overall economy and the landscape that we're talking about, which of course has been weak for technology earnings, what does it tell you? >> well, tii think it just tell us to be a little cautious here. we're at highs. we've been trading in a trading range since the qe-infinity announcement in mid-september. i think the bar had been set low for third quarter earnings based on second quarter earnings and the summer economic slowdown. but it is sector by sector. you've seen some weakness in technology. the financial earnings were okay. the consumer earnings seem to be okay. we're only about a fifth of the way through. but it's a continuing trend of low growth rate of earnings, maybe even negative this quarter. more importantly, disappointments in revenues. with margins as high as they are, it's
CNBC
Oct 24, 2012 3:00pm EDT
as well. joining us from the buttonwood gathering here in new york. gentlemen, good to see you all. greg, i guess no surprise, but how much of this is, you know, leaving things almost precisely as what they said and did in september? how much of that is their view of the economy, and how much of it is they want to stay out of the way, two weeks away from the election? >> i don't think this has to do with the election. i think it more has to do with the first part of what you said, that they haven't seen much change to their fundamental view. i want to point out two things that did not change that i think were noteworthy. they still describe the unemployment situation as elevated in spite of that surprise drop below 8% we saw last month. they also said inflation expectations are stable in spite of the fact that since their big announcement last month in the bond market expectations have risen. that's important because it tells me they have not seen anything in the improvement in the labor market or the rise in inflation expectations that would deter them from doing more. all eyes are on t
CNBC
Oct 29, 2012 6:00am EDT
. originally the nyse had planned to use its electronic platform, but at this point it has decided to shut trading all together. that happened after it had conversations with other u.s. stock markets and with u.s. regulators, including the sec. and this is the first weather related shut down since hurricane fwlor i can't back in 1985. the cme group is running its urk of usual futures session from 6:00 p.m. to 9:15 a.m. eastern. you will be able to see the stock index futures throughout the morning. they are under pressure right now. cme will be shutting down trading after that time. so depending on the impact of the storm, it's possible the same scenario will be repeated this morning. three companies have canceled earnings reports. pfizer, nrg and entergy. the government still planning to release personal income and spending data at 8:30. >> the question is did they decide to shut down the electronic portion because the s sec and others said we don't know whether the system unto itself will work, or -- >> they did taest it back in march. >> and they were undetermine pressure in banks and c
CNBC
Oct 30, 2012 5:00pm EDT
." thank you for joining us tonight. follow me on twitter and google-plus. @maria bartiromo. everybody here at "closing bell" wishes you safety as the cleanup tonights. stay with cnbc. fast money" begins right now. >>> welcome to a special edition of "fast money." tonight we're digging into the fallout from hurricane sandy. how much will this historic storm cost? how will the markets react tomorrow after the biggest disruption to trading since 1888? we'll get insight on the power outage from the ceo of exlon and ceo of jet blue. trading may be halted for two days but there's still big news to digest in stocks like apple and facebook. plus a fwig deal for disney this evening. first let's get the latest headlines from courtney reagan. >> taunk you, melissa. the human death toll from megastorm sandy stands at 39. a number we've watched grow all day and sadly expect to keep on climbing. financially sandy will end up costing $20 billion in property damage and between $10 billion and $30 billion more in lost business making it one of the costliest natural disasters on record in the u.s. according
CNBC
Oct 18, 2012 6:00pm EDT
high-tech tim pkin steel. this kind of technology, the technology you see behind us, sure feels more certain and more tangible than google's technology after today's brutal shortfall. and you know, what that's the main reason why we came out to the industrial heartland today, to examine firsthand the manufacturing belt that used to be rusty, but that ruflt has been washed off by good new american know-how and yes, a hefty dose of cheap american power brought to you by the oil and gas shale that lies beneath thousands of feet below the ground. and actually just a few miles from where i stand. we're xmg a renaissance you probably haven't even heard about. we had to come to this small corner of northeast ohio to believe it ourselves. because it is that magical. you'll see tonight how bearings at this timken factory behind me help chesapeake drill for oil and gas in the utica shale that is then shipped via spectra, the pipeline company, to reach homes all over the country, including those serviced by our country's largest utility, american electric power. we're going to talk to the execu
CNBC
Oct 14, 2012 7:30pm EDT
. welcome to the wall street journal repart. i'm maria bartiromo. companies tell us how profitable they are. what does it mean for the markets and your money. what is bob woodward uncovering in his new book about president obama? rare access to the president and how he handles the economy. a familiar face and concern. my conversation with matt damon about clean water around the world. >> it eeps the place where i feel i can have the biggest inl pact on people's lives. >> wall street journal report begins right now. >> the wall street journal report, now, maria bart row know. >> we'll have all that in a minute. first, bill griffith with a look at the headlines. >> here is a look at what's making news on wall street. the all important earnings season is upon us here with mixed expectations. so far, it's what companies have been delivering. jp morgan chase turned in estimates. housing turned a corner. wells fargo beat expectations but it fell short on the revenue side. alcoa lowered the forecast citing slower economy. by thursday, the dow was riding a four-day losing streak and the nasdaq had
CNBC
Oct 15, 2012 4:00am EDT
for joining us. good to see you. when you look at the inflation data, trade data suggests things are actually a little bit better than we might have thought. are they just one month figures? >> are you asking whether it may be a one off? >> yes. >> okay. i see. prior to the data release, we were looking for actually a stabilization of export growth in china. and given the recent improvement in the global ism and also export orders, so instead a little better than expected. and wihether or not it will extend into early next year remains to be seen. what we can try for watch for as a gauge is the trade fair that starts today. we can check out whether the export orders during this trade fair will help to extend the growth. >> so what more policy action are we going to get? >> we see today the inflation figure came in line with expect station and for the full year, the inflation probably will come in at 2.7%. also mentioned by the pboc governor during imf and the world bank meeting over the weekend. and i think the governor was emphasizing on the medium term inflation risk and the controlling inf
CNBC
Oct 26, 2012 4:00am EDT
. and a late burst of spending by consumers is likely to boost third quarter u.s. gdp, but growth may still be too sluggish to bring down employment. welcome to today's show. the last one of the week here. and just remind you plenty to get through as we count down toward the gdp number in the u.s. we'll have an interview with the boss of jpmorgan, jamie dimon. his views on the election and his outlook on the economy. microsoft is unveiling its windows 8. we'll have the latest plus in-depth analysis at 11:45 cet from new york. at 10:20, we're heading to hong kong. big day for earnings from chinese lenders. and then at 1 ch11:50, we're in chicago and third quarter u.s. g gdp. apple corporate figures up 24%, but it missed analyst forecasts. second straight miss for the company. revenues rose 27%, slightly better than expected. apple sold nearly 27 million iphones. the iphone 5 was released at the end of the quarter, but ipad sales were well short of forecasts. apple first quarter guidance which includes the holiday shopping season also trails analyst estimates. lowist figure in around four yea
CNBC
Oct 29, 2012 5:00pm EDT
. thanks for joining our special coverage. we will be live tomorrow all day. join us for our special coverage tomorrow as well. be safe, everybody. i will see you tomorrow. >>> welcome a special edition of "fast money." hurricane sandy landfall in the new york area is imminent. we are covering the latest the historic storm. brian shactman in montauk, long island. scott cohen in battery park, new york city. let's go to scott with the latest. >> probably will be the last report we do have from this location here because as you may be able to he the waters of new york harbor starting to lap up on to this area here at the battery at the tip of lower manhattan. precursor to the big storm surge that's going to come in with hurricane sandy. we don't want to be anywhere near it. i can tell you now that manhattan, crossroads of the world, sun creasingly now becoming an island because within the next couple of hours, the major bridge misand out of new york city, george washington bridge, other bridges in this area, will be closing down and the issue on that front is the winds. i want to show y
CNBC
Oct 16, 2012 6:00pm EDT
-mail. or give us a call. miss something? head to "mad money." bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners. >>> there is nothing more important than having some yield. nothing. most vindividual investors are under the impression that the way you make money is that owning stocks is by powering higher. that is only half the story. something like 40% of the gains from owning stocks came from getting that dividend and buying more stock with it. buy buy buy. we want to own stocks that go higher but we need to buy stocks that have high yields. the returns from bonds and sertiser t sertive cats of deposit bring me to the call
CNBC
Oct 2, 2012 9:00pm EDT
's wrong with that? [ticking] >> when the u.s. oil companies came here in the '40s and '50s, the americans moved into the area with their families and developed it to suit their tastes and their way of life. they created a replica of american suburbia. today you could be in the outskirts of houston or los angeles. it's almost like it's an enclave within saudi arabia. it's--different from the rest of the country. >> yes, that's true, because-- >> very different. it kept a lot of the american ways. >> yes, of course. >> but blocked off from the rest. >> they are good ways. there's nothing wrong with it. these were their excellent ways. >> welcome to 60 minutes on cnbc. i'm morley safer. in this edition, we follow the flow of big oil from massive, mega billion dollar oil fields in saudi arabia to the u.s. where wall street refines the oil into a mega billion dollar commodity. we begin with a look back to 2008 when the price of oil, theoretically tied to supply and demand, suddenly became untethered. storage tanks were full, yet the price skyrocketed from $69 a barrel to nearly $150 before it
CNBC
Oct 9, 2012 4:00am EDT
. >> imf down grades global growth saying europe and the u.s. needs to get their finances in order or risk further weakness. >> the euro trades lower as draghi speaks in brussels. the ecb president announces proposals to deal with risks from the banking sector. >> plans to make further proposals for macro policy particularly on vulnerabilities linked to bank funding. >> angela merkel faces a tough reception in greece as protesters take to the streets. >>> and alcoa kicks off what could be subdued u.s. earnings season. third quarter results of the s&p 500 are expected to drop overall snapping 11 quarters of gains. >>> okay. good to have you back. >> good to be back. you were out, i was out, it was -- >> and i was a little worried about what you were up to, so i do admit, i had you followed. and my man, he sent me back this photograph. >> oh, no. >> that is you with the goggles, right? >> yes, that's me with the goggles. >> what's going on? >> that's my sister at the end there. so i was back at my alma mater in virginia for my college reunion. part of that was -- >> to dress up and pretend y
CNBC
Oct 30, 2012 9:00pm EDT
using a gun. recently, "american greed: the fugitives" spoke with barksdale from a federal prison, where he said he always knew how the scam would end up. barksdale gets nearly 11 years in prison, but prosecutors say, in truth, jackson was the brains behind the scheme, and is facing a sentence that fits her role as the scam's alleged leader. >> neisha jackson was looking at some years. there's no doubt about it. >> narrator: matthew segal is an assistant u.s. attorney in sacramento who prosecuted barksdale. in october 2011, he's back in court, ready to put this massive case to bed. >> there we are in the morning, and it's time for neisha jackson, actually, to be sentenced. her lawyer's there, and i'm there. the judge is there. but no jackson. >> narrator: as time passes, jackson's lawyer says she's gotten a phone call from her client. jackson says she's not there because she's in the hospital. segal isn't buying it. >> given that the entire nature of this case was using the phones for fraud, i only would have been comfortable if i had seen jackson right in front of me. >> narrator: his d
CNBC
Oct 15, 2012 2:00pm EDT
ready to help us create jobs in oklahoma and we need them very badly. >> let's focus more on the positive. which is this. stocks are up. even house flipping is back. whether or not that's a good thing or not, you can determine. people though are taking more risks. is that a sign that confidence is strong? >> confidence is improving. there's no doubt about it. >> strong or improving? big difference, right. >> improving. put it that way. i think the improvement is mostly looking at financial asse assets, high-yield bond spreads, high-grade corporate bond spreads have really narrowed. they believe in the equity market. not so sure about their own personal situation here in terms of the economy and job growth. as was suggested earlier. >> when we look at personal spending numbers out today, retail numbers, it was better across the board. i'm just wondering whether we're going to be able to revise up our estimates for third quarter gdp. >> i think a lot of people will look at 1.5% to 2% gdp. what's really happened we sort of wiped out all those recession forecasts. there is an
CNBC
Oct 8, 2012 4:00am EDT
's delivering very low interest rates for us in the market at the moment. so that is the proof that there's international problems. >> the bae/eads merger, largest shareholder opposes the deal saying it would be better left as a stand alone company. >>> and angela merkel's first visit to athens since the eurozone crisis as finance ministers meet today in luxemburg. >>> very good morning to you. a new week on "worldwide exchange." and too late. if you haven't got your application in, it is too late. bank of england government job should have been in half an hour ago. so if you didn't make it, you're not going. jim o'neill wasn't applying, scott mcdonald wasn't applying either. i didn't get mine in. so never mind. stick here. also coming up, we'll be heading to new delhi to hear how undoing regulatory requirements could boost investments. details from one of the author of the quarterly cfo survey. and also president chavez is fig celebrating a hard-fought victory. if you have any thoughts, comments, whatever you like, e-mail us worldwide@cnbc.com or tweet @cnbcwex or @rosswestgate. first we
CNBC
Oct 30, 2012 1:00pm EDT
for trading tomorrow. that's it for us. power lunch begins now with more storm coverage. >>> thank you very much. we start with breaking news on the markets. they will reopen tomorrow. >> indeed they will. and bob pisani is on the story, as he has been since the beginning of this storm event. bob what do we know at this point? >> the important thing is it's all systems go the words everybody has about wanting to hear. nyse and nasdaq, all of the exchanges under a lot of pressure right now. here is the statement we just got from the nyse. we are pleased to be able to return to normal trading tomorrow. our building and systems were not damaged and our people have been working diligently to ensure we have a smooth opening tomorrow. our thoughts remain with the families and communities suffering in the wake of this disaster. the important thing, nyse building and trading floor fully operational, those are the words that we wanted to hear. no damages to the building. of course, all morning, meetings with the operations team to make sure that things are possible to get going. a lot of issues conc
CNBC
Oct 8, 2012 7:00pm EDT
the response to the terrorist attack on the u.s. embassy in benghazi. cnbc's own john harwood has the latest. good evening, john. >> good evening, larry. mitt romney tried to build on his successful debate last week by talking foreign policy today and attacking president obama as simply not someone leading. >> i know the president hopes for a safer, freer, and more prosperous middle east allied with us. i share this hope. hope is not a strategy. >> we don't know if that line is going to work, but we know from new polls out today he's made significant headway since the debate. puts a lot of pressure on the vice presidential debate later this week. we'll talk about it at athe bottom of the hour. >> we will see you later on that very topic. also this evening, one battleground state, michigan, will vote on a state constitutional amendment to allowing collective bargaining, unlimited wage increases, and unchecked union power. michigan's governor rick snyder says how it will disrupt his state. they paid hundreds of thousands to a chicago consulting firm for training sessions where employees chant
CNBC
Oct 30, 2012 4:00am EDT
to reposition for the future after what played out in the u.s. is it time for bp to do something controversial sand wade back into the u.s., a country chasing a very strong independent policy? >> then ear asking is it an inquire remember or inquiree. and that's a critical question for this juncture. it could be preying. and that's because of the way it's reshaped itself back to the core business. well done management, you've done everything you can do in the resur against phase. does it need new business to move the business forward. >> big energy names reporting. is this an area that you even . want to be in right now. >> go back to my inflation bug bear. what's interesting actually is that oil and crude oil prices are not the primary driver of inflation, so we actually complaint blame crude oil at that point, although everybody wants to blame it maybe the debate happens with a gallon of gas in the united states over the u.s. presidential election period. p so for me, yes, it's an oil company, yes, it's therefore dependent on the relationships in terms of the underlying price. yes, a lot of
CNBC
Oct 4, 2012 4:00am EDT
to fix the u.s. economy. waiting on spain, the ecb expected to hold steady on rates. country's president tells cnbc that europe's policymakers must remain focused. >> if we get bogged down into what was meant by the june agreements and waste time on this kind of discussions, then it's much less likely that a coherent system will emerge. >> madrid continues to put faith in the hands of private investors while finance minister heads to london to raise funds for the country's bad bank. and india's crucial services sector grows at its fastest rate in seven months, while the government gets set to take another swing at boosting it through foreign investments. thanks very much for joining me. anyone that's missing ross, he'll be back in tomorrow. but for now, you're all mine. . plenty to come on the next couple hours of the show. lots of guests to help us figure out what's going on. we'll get a view from sydney about cautious shoppers. borrowing costs are expected to fall. we'll bring you those results from madrid. and we'll head out to malaysia for an exclusive interview with the country's pr
CNBC
Oct 7, 2012 7:30pm EDT
guest tom gardner, ceo of "the motley fool." tom, good to see you, thank you for joining us. >> good to see you, maria. >> we got the numbers out on friday showing 114,000 new jobs created for the month. the unemployment rate the lowest in 3 1/2 years, 7.8%. were you surprised by the numbers? what do you think it tells us where we are in the recovery? >> this is good news, no question. i think there are a couple of things to remember. first you get the context. we're 7.8% unemployment. historically over the last 60 years it has been 5.8%. two percentage points above where we would like to be in the u.s. the other thing is where are the jobs coming from? we see health care is a healthy area for unemployment, manufacturing is not. i think that will continue to be true. american workers need to understand we are moving to a knowledge economy, technology, solutions and services and not product. there is that shift going on in the workforce as well. >>> the markets neared multiyear highs this week. money has been moving in to stocks, do you think it continues to go up and do you think thi
CNBC
Oct 8, 2012 9:00am EDT
>> carly, it's been a pleasure having you with us today. >> great to be back. >> we have a lot to talk about with her as the campaign continues. "squawk on the street" begins right now. >>> good monday morning. welcome to "squawk on the street." i'm melissa lee along with carl quintanilla, jim cramer and david faber live from the new york stock exchange. let's see how we're setting up this morning, this after the dow hit its highest levels in nearly five years on friday. taking a little bit of a pullback here. the dow is down 48 points here, according to fair value. nasdaq looks to lose about 15.50. finance ministers are gratherring fgrath eathering for a two-day meeting in luxembou luxembourg. our roadmap starts off in china. a lower economic forecast from the world bank? is their economy getting even worse? >> earnings season here begins tomorrow with alcoa, costco, jpmorgan highlighting the week. we'll tell you why alccoa is a tell on how earnings will go. >> more worries for apple investors. reported work stoppages at foxconn. the stock now below the 50-day moving average.
CNBC
Oct 19, 2012 6:00am EDT
and r and use somebody else as a point of pride? do you say next time this isn't going to happen? >> someone yesterday was saying is the selloff -- how much is related to how bad the numbers are and just how much to the way that the newspapers came out. >> i think it's the numbers themselves. >> i don't understand why the street was so far off on that. >> an analyst says google is above all others. in hindsight he'll say not surprising. but earlier this week, it was google is the one who will never stumble. >> you have the mobile problem and the motorola problem. >> mobile is a bigger problem. >> if you could see what was happening in facebook shares yesterday, same issue because it's clearly impacting everybody. nobody be's figured out a way to make a dollar. >> and other analysts have said i don't understand why google would be different. if you're worried about mobile and how nobody has figured out how to make money off of mobile and get the ad space there. >> has anyone gone on to google today? if they had a sense of humor, it would be -- >> 1987 crash? >> no, they would be m
CNBC
Oct 22, 2012 6:00am EDT
.8% for the quarter. earnings news maker is caterpillar ceo, joining us at 8:00 eastern time. joe mentioned the markets and friday's tough finish to stocks. the dow dropping more than 200 points during the session. but the major indexes did hold on to small gains for the week. and check out the calendar. two day fmoc meeting beginning tomorrow. wednesday, new home sales. thursday, we get the weekly jobless claims, durable goods and pending home sales and friday consumer sentiment, so a huge week and it all wraps up with the first quarter read of third quarter gdp. that number will be watched closely. our squawk market master this hour is marc faber. he'll be joining us onset in just a moment. in fact i think i see him making his way out now. also politics are on the agenda today, as well. we have the third and final presentation debate set for tonight in florida. that final 90 minute showdown will focus on foreign policy. bob schieffer of cbs will be moderating. you can watch complete coverage right here on cnbc and of course the cnbc twicker will be live. right now let's get you up to spee
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